Knuru Capital leads $30m financing to KLAIM to expand its capital solution

Knuru Capital leads $30m financing to KLAIM to expand its capital solution

Venture investor firm Knuru Capital announces that it will be providing with a $5 million seed investment into an innovative securitized financing structure to help scale its receivable purchase operations in the UAE. KLAIM is a FinTech company dedicated to healthcare that provides working capital to small and mid-size healthcare providers to ease their cash flow burden. Through this deal, Knuru will provide an initial commitment with plans to increase this to over $30 million by way of a pool of Sharia-compliant investors. The funding will be used to support KLAIM’s medical claims receivable purchasing solution, which allows healthcare providers to quickly access working capital by selling their insurance claims that are pending payment and typically settled between 60 and 112 days. Previously, KLAIM has announced working on an alternative Sharia-compliant fund provided by Al-Khair Capital which is currently under regulatory approval by CMA in Saudi. The company is poised to scale its operations with further institutional debt and Series A equity financing in the very near term. This innovative financing structure led by Knuru Capital is one of the first of its kind in the UAE and a landmark expansion phase for KLAIM, which aims to bring its advanced